Debt: Know the Psychological Factors

As difficult as the situation is, understanding how some psychological factors can be very helpful to your financial life. Debt, in many cases, is due to some mental triggers, which when mapped make them less complicated to circumvent.

With the help of psychology and neuroscience, you can identify some traits that can help you understand the situation. Remember that when we understand what is going on, everything becomes easier to solve.

Psychological factors

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Impulse buying is very common for most people. After all, during debt, it is normal to seek immediate relief. However, it is important to keep in mind that no realization is totally full, but temporary.

As we decide whether or not to buy something, a duel between our excitement and reason is fought. The moment reason encourages us to save, our emotion tries to convince us with various arguments that it is just a purchase. Even aware of being in debt, people often succumb to emotion. However, despite the mistake, people are aware of their choice, the main psychological factor of this indebtedness happens because the consumer really can’t control himself.

Looking for an external factor can further damage the situation. Be aware that regardless of your salary, earning more may not solve your problem. Understanding your habits will be the main key to spending less and matching your salary to your current life situation.

Psychological Effects of Debt


Finding someone happy because they are in debt is practically impossible. Due to the unsuccessful trait created by society, the person feels sad that they could not manage their finances, work life and could not reach their plans.

In addition to affecting self-esteem, the memory of debt takes over the individual, disrupting his professional life and making it difficult to sleep several nights. Another point that can also bring serious psychological problems is the escape from the problem, as living outside your reality can generate states of anxiety and depression. 

Another fact is linked to the high interest rates that Brazilians face with purchases.

At the same time that young people in the United States bear 10% interest on their debts to enter a university, Brazilians often consume designer clothes and accessories at much higher rates. However, this is only an illusion. Unlike Americans, who maintain self-esteem because debt is an investment, Brazilians tend to delude themselves with futile things. This, in most cases, results in a senseless spending snowball.

About debtors, we can classify them into two categories:

  • Passive debtor: They are those unable to manage their financial life and therefore always return to duty.

  • Active debtor: Group participants often get into debt because of unforeseen events. Some examples are job loss, health problems and the like.

To avoid further negative consequences, it is always worth consulting with a psychologist to keep up with mental health. Since life is busy, having access to an online therapy may be right for you.

Online services have the same quality of face-to-face service. In addition, the value is more affordable and also have more flexible hours.